Downsizing: Condé Nast divisions combine to become single company

Downsizing: Condé Nast divisions combine to become single company

Condé Nast is uniting its various business units into a single global company, according to a report published by WWD, which suggests that the publisher’s motivation is cost-saving.

Current CEO and Chairman of Condé Nast International, Jonathan Newhouse has been named Chairman of the new international magazine giant, which will be known as Condé Nast, but the company is yet to appoint a CEO and is said to be seeking an external candidate, which leaves current Condé Nast CEO Bob Sauerberg in a precarious position.

The publisher of Vogue, Brides and Condé Nast Traveler has suffered as print publications lose readers in favour of digital. Sauerberg has been working to reduce the company’s reliance on ad revenue, which has steadily shrunk and scale up digital but progress has been slow.

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